bne_newspaper_August_17_2018

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Content:
2 Top Stories
5 The Regions This Week 8 Chart
9 Central Europe
14 Southeast Europe 20 Eastern Europe 24 Eurasia
27 Opinion
30 Lists24 Lists
August 17, 2018 www.intellinews.com
Crisis in Turkey: Finance minister wields the fiscal hammer
Will Conroy in Prague
What could be Turkey’s biggest fiscal tightening this century was pulled out of the hat by Turkish Finance and Treasury Minister Berat Albayrak on August 16 as in a conference call with 6,000 inves- tors he continued with his attempt at talking up the beleaguered Turkish lira (TRY).
Albayrak was clear that Ankara is not preparing
Turkey raises stakes in “economic war” with tariff hikes on US goods
Will Conroy in Prague
As officials in Ankara welcomed a continuing rebound in the value of the embattled Turkish lira (TRY)—as of around 17:20 local time on Au- gust 15 it was up more than 5% against the dol- lar, to stand at 6.055, a stark improvement from
to either introduce capital controls or go to the International Monetary Fund (IMF) for a bailout as it strives to rescue its currency from a devaluation of epic proportions and prevent the lira emergen- cy from triggering a debt and liquidity crisis. His words appeared to have the requisite effect, with
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the all-time weak rates beyond 7.0 seen five days ago—Turkish Vice-President Fuat Oktay stepped forward to announce the tariff hikes, saying they
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